Chainlink (LINK) is currently trading at $13.52, reflecting a 24-hour change of -4.82%, which indicates a bearish sentiment in the short term. The price has oscillated between a 24-hour high of $14.77 and a low of $13.48, demonstrating a daily range of 1.29%, suggesting limited volatility in the current market environment.

Volume stands at $866,757,073, which corresponds to a volume/market cap ratio of 9.20%, highlighting a moderate level of trading activity relative to its market capitalization. Short-term moving averages reveal a bearish trend, with the 8 SMA at $14.30 showing a decline of 5.45%, while longer-term moving averages also indicate downward pressure, particularly the 144 SMA at $13.95 down by 3.10%.

The 1-hour Relative Strength Index (RSI) is at 30, indicating that LINK is currently in an oversold condition, which may prompt a potential price correction in the near term. In contrast, the 7-day RSI sits at 47, reflecting a neutral stance, while the 7-day price change shows a decline of 8.36%, emphasizing the recent bearish momentum.

Chainlink has experienced a notable decline over the past 30 days, with a price change of -18.78%, indicating that investor sentiment has been predominantly negative. The all-time high for LINK remains at $52.70, reached on May 10, 2021, providing context for current price levels and the potential for recovery in the long run.

Based on the current technical indicators and market sentiment, a Hold rating is advised. The oversold condition on the 1-hour RSI suggests a possible short-term rebound, but the persistent bearish trend in the moving averages and overall price performance warrants caution before any aggressive buying.